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(Solution Download) On June 30, 2014, Freeman CompanyAc??cs total current assets were $497,000 and its total current


 

 

 

 

 

 

 

On June 30, 2014, Freeman CompanyAc??cs total current assets were

 

$497,000 and its total current liabilities were $271,000. On July

 

1, 2014, Freeman issued a long-term note to a bank for $39,200

 

cash.

 

 

 

 

 

 

 

 

Required

 

 

 

 

 

 

 

 

 

 

 

 

a.

 

Compute FreemanAc??cs working capital before and after issuing the

 

note.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Working Capital
Before transaction:?
After Transaction:?

 

 

       

 

 

 

 

 

 

 

 

 

 

 

 

b.

 

Compute FreemanAc??cs current ratio before and after issuing the

 

note. (Round your answers to 2 decimal

 

places.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Ratio
Before Transaction:?
After Transaction:?

 

 

      

 


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